Ironwood Pharmaceuticals Rating Reiterated by Zacks (IRWD)
Ironwood Pharmaceuticals (NASDAQ:IRWD)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Wednesday. They currently have a $14.00 price objective on the stock. Zacks‘s target price would indicate a potential upside of 4.01% from the stock’s previous close.
Zacks’ analyst wrote, “Ironwood reported a loss of $0.38 per share in the second quarter of 2014 narrower than the year-ago loss of $0.57 per share. The Zacks Consensus Estimate was a loss of $0.36 per share. Revenues could pick up from the next quarter on the back of price increases. Ironwood and Actavis have increased the price of Linzess from $7.70 per pill to $8.43 per pill. Ironwood’s partnerships with big pharma companies for the development and commercialization of Linzess in different territories are also encouraging. However, we are concerned about the disappointing top-line phase II data on Linzess released by Astellas. Since Linzess, launched in Dec 2012, is the company’s sole marketed product, it is highly dependent on the drug for growth. Based on the above factors we maintain a Neutral recommendation on the stock.”
Ironwood Pharmaceuticals (NASDAQ:IRWD) traded up 3.49% during mid-day trading on Wednesday, hitting $13.93. The stock had a trading volume of 1,014,945 shares. Ironwood Pharmaceuticals has a 52-week low of $8.95 and a 52-week high of $15.95. The stock has a 50-day moving average of $14.84 and a 200-day moving average of $13.56. The company’s market cap is $1.927 billion.
Ironwood Pharmaceuticals (NASDAQ:IRWD) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.38) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.36) by $0.02. The company had revenue of $6.84 million for the quarter, compared to the consensus estimate of $15.75 million. During the same quarter in the prior year, the company posted ($0.57) earnings per share. The company’s quarterly revenue was down 29.9% on a year-over-year basis. On average, analysts predict that Ironwood Pharmaceuticals will post $-1.33 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Leerink Swann reiterated a “market perform” rating on shares of Ironwood Pharmaceuticals in a research note on Tuesday. They now have a $16.00 price target on the stock, up previously from $15.00. Separately, analysts at Furey Research Partners initiated coverage on shares of Ironwood Pharmaceuticals in a research note on Wednesday, July 9th. They set a “buy” rating and a $20.00 price target on the stock. Finally, analysts at Mizuho raised their price target on shares of Ironwood Pharmaceuticals from $17.00 to $19.00 in a research note on Wednesday, June 25th. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $15.30.
Ironwood Pharmaceuticals, Inc is a pharmaceutical company, which discovers, develops and intends to commercialize differentiated medicines.
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